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Navios Apollon I panamax vessel delivered

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Dry Bulk,

Navios Maritime Partners L.P. (Navios Partners), an international owner and operator of container and dry bulk vessels, announced on 10 May that the Navios Apollon I, a 2005 built, 87 000 DWT panamax vessel was delivered on 9 May 2018.

As previously announced, the vessel was acquired for a price of US$13 million.

Based on the current rate environment (Clarksons’ one year time charter rate for panamax vessels as of 4 May 2018), the vessel is expected to generate approximately US$3.2 million of annual EBITDA, assuming operating expenses approximating current operating costs and 360 revenue and cost days.

The acquisition of the vessel was financed with cash on the balance sheet. Navios Partners controls a fleet of 38 vessels, 13 capesize vessels, 17 panamaxes, three ultra-handymaxes and five container vessels.

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Dry bulk shipping market Panamax news